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20121201
20121231
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k.f.c. and pizza hut says sales are slowing in china. >> tom: that and more tonight on "n.b.r." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: the president is proposing to raise taxes by $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemploym
. how we really globalize. globalization is a big company game. i can go to china and not be afraid. going to africa and compete with the chinese. i can go to russia and say i can manage the risk-reward equation. so that's where a lot of new consumers are and i would say that is a core competency of a multibusiness big company like g.e. so i'd say it's more than those two but those two are important. >> rose: you once said to me tell me what the global economy will look like and the domestic economy will look like and i can can tell you what g.e. will do. >> uh-huh. >> rose: look ahead to the global economy today and tell me how you see it, where it's going and pra what are the prospects for growth? >> i think the world always revolves around a couple fundamentals. one is where are the people? demographics rule. at times when the u.s. grew the fastest was times when the population was also growing the fastest. so the fact there that there's a billion new consumers joining the middle-class in the next five or ten years, you bet be with them. the second is the cost of materials so bas
the other day on the role that china is now playing on the continent, and if one wanted to be really aggressive, some could argue that china is decolonizing -- re-colonizing the continent. >> i can understand the anxiety in some respects. the european countries, for instance. china, after its phase of communism, they have amassed capital and is expanding that capital in a favorable terms. being able to look at the terms of a new economic force in the world. they probably need the african governments to safeguard what they have one after years, decades, a couple centuries to european powers and make sure they do not sell them, but as far as economic trading relationships are concerned, material, in exchange for technology, in exchange even for political alliances, i always wondered about that. tavis: made the argument is because free enterprise and colonization sometimes goes hand in hand. in africa and parts of the world under the guise of free enterprise. >> unfortunately, it does not stand the test of argument. if you say it is a free market. then they must leave the african countr
me forecasting this, opec is worried about it, he stated it, so has the iea if china continues to slow down and they likely will because europe their biggest customer goes into a full-blown recession if not worse, that is going to spell trouble for the global economy, people won't be needing energy and just like we saw in 2008 with the financial crisis, oil gets hit, the prices get hit in that environment, like you said, though, it is a counter cyclical so it is stimulative to the economy, more money in consumers products hopefully to buy and sustain the economy. >> complicated equation there, john, thanks a lot for coming and explaining all of this, have a great weekend. >> >> still hot on this friday night, u.s. manufacturing staying afloat, the luxury boat business made right here in the usa. >> it is called pay as you earn, it is a new obama administration program to pay off student loans, the starting date to sign up is next friday. but it looks like the plan favors graduate students who get bigger paychecks than low earning workers. >> in the state of >> reporter: in his
, with russia and china, containment when it came to russia was countering their expansive capabilities. >> rose: right. >> our own -- when it came to their nuclear capability we were talking about deterrence. >> rose: right. >> and so i think first we want to contain iranian influence in the region, but i think the question that people are -- that what the president is really addressing is, or would we be content with deterrence? >> right. >> and there i think the difference in the ayatollahs and their religious, their they cratic approach to the world, their threats to destroy israel make them a more worrisome, significantly more worrisome possess sorry of nuclear weapons than other nuclear states. >> rose: because they have a different decision al type structure. >> yes. >> rose: from russia, and the soviet union from going into europe once again, deterrence is mutually assured destruction. and so then, does the question of value and life, different because of a culture that can produce suicide bombers mean that there -- means that will not work in the end or do you say no nationable and the
at the first north american exhibit of work by china's ai wei wei. brown: antique wooden stools from the chink dynasty. a video documenting changes along a major street in beijing an ancient vase with a modern-day logo. now on display at the smithsonian's museum in washington d.c. in an exhibition called "according to what," these are the works by the chinese artist away way. a prankster who can make a tea house literally out of tea leaves and represents the surveil-camera that watches him at his home in china is a marble sculpture. he's a visionary who helped design the bird's nest stadium for the application and whose use of social media is shifting the boundaries of art and activism and a dissident. he took a picture and tweeted it even as he was being arrested in 2009. and then spent 81 days in prison, was beaten and made the x-ray image of the damage he suffered into an art work. >> for me living in today's world, if you live in china, it's very hard to do a work which is not... which does not reflect or suggest the other possibility and meanings. all the works i do which connect or refle
is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the scal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies
isolated. its main ally, china, is unlikely to let you in impose tough new sanctions, so it will probably continue to develop rockets and bombs. -- china is unlikely to let the un impose tough new sanctions, so it will probably continue to develop rockets and bombs. >> i spoke to victor, the fellow for strategical international studies. victor, we have become used to these north korean launches not working. how worried are you by the successful one? >> i think it was definitely a surprise. i think the general view was that they tried so many times and failed, with the last one being the most spectacular failure. this was a successful launch in which they demonstrated the ability to lift a payload into orbit, which suggests they have long-range ballistic missile technology, and that is a big step they have made. >> does it give north korea more clout when it comes to possible negotiations? >> i think that is one motivation for doing this, but it puts them a stronger position where they can go to those new governments in korea and japan and say they are stronger, but the main reason is stra
will find out how it is changing china. is the season to engage in psychological warfare. and least, that is the accusation being made by north korea against its neighbors to the south, and it has to do with a christmas tree just west of seoul, korea, and the problem is that can be seen miles away in north korea. the north has threatened to the south with retaliation but has not said how exactly. children in one town have been given their christmas presents by elephant at their school. they enjoy the festivities. it is a regular feature of the town, but it was canceled because of flooding. now, when would you need an ax to go swimming? well, here is one example. this is north of the capital of berlin. they were breaking up the ice and then taking a dip. you are watching "bbc world news." these are our headlines. two firefighters have been killed and another wounded in new york state. it happened as they responded to a blaze. an aide to advisor has been killed in afghanistan, the first killing of its kind, shot by a woman in police uniform. and another six police dead. it is now more
to china's extravaganza. most charismatic, pat? >> rg3. redskin rookie of the nfl. maybe mvp. has set this city on fire. >> marco rubio. senator from florida whose articulate to the point of almost being dem ogic. . but he is a riveting speaker and he has a future. >> are you afraid of him. >> no. i just pointed out his attributes. >> he is richly republican. you know that? >> right. but the democrats have their bench, too. >> i mean, after that, you know, the democrats still going to embrace you? >> i still think that bill clinton's speech at the democratic convention was the most exciting moment of that convention. turned around the whole convention and once again revealed the great talents of bill clinton. >> does he save it? >> you are showing your brilliance again. >> i absolutely agree. a better job than barack obama did. >> i want to add to the clinton tribute. the most charismatic bill clinton. for stellar performance of the democratic national convention. his 40 minute speech was critical for a second term for barack obama. it redefined the global economic crisis. he describ
concerns that china, russia, and others will seek new limits on internet access. the head of the u.n. regulatory agency insisted such claims are "completely untrue." concerns about flooding eased in northern california today, despite heavy downpours over the weekend. the region has had three powerful storms in the last week. as much aan inch of rain an hour fell in some communities yesterday. rivers swelled, but the storm moved faster than expected so flooding wasn't as bad as it could have been. still, strong winds downed trees, leaving some 57,000 people without power. some 20,000 public school students in five states will spend more time in the classroom next year. they're part of a pilot program announced today in colorado, new york, massachusetts, connecticut, and tennessee. a total of 40 schools will add at least 300 hours to the standard school calendar. the goal is to see whether more time will make american students more competitive on a global level. britain welcomed news today that prince william and his wife catherine are expecting their first child. the announcement sa
have the ecb. you have the government in china. so if don't fight the fed works then you don't want to take on all of these central banks. and market action has been showing this. when the year closes here, we're going to see new all-time yearly closing highs on the small-cap index, on the midcap index and on the dow transportation index. those are yearly closing highs. the nasdaq -- >> ok. >> excuse me? >> go ahead. i want to jump in and ask you, so you're talking mostly here about equities, for investors who have money in bonds, should they be now transferring money into equities or do you still see that it makes sense to keep some of your money in treasures and other bonds? >> it depends on the investor. if the yield is important to them as income and they won't need to sell their bonds before maturity, then i say hang on to them. i'm not one of those people who thinks that bonds are going to take a big drop. i would be skeptical of trying to play it tactically which means by some bond and then you look to sell them quickly, i wouldn't be doing that. but an investors who -- >> ok
the phrase suffering for your art. we found another example of that in china. snow sculptures put in hundreds of hours to carve masterpieces as part of a festival in the northeast in super cold conditions. >> it is -30 degrees celsius in this part of china and the sculptors are continuing to carve their masterpiece despite the plighting cold. >> i need to protect my face as much as possible. the cold weather and the uv light to make my face hurt. it will take about two weeks to return to normal after a go home. >> one of the works is a herd of stemmed -- of stallions. the kind this particular piece will be the largest in the world. this is another example of their icy art, a life-size to church, incredible detail by the incredibly dedicated. >> make sense of international news at bbc.com/news. >> funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. and union bank. >> at union bank, our relationship managers work hard to understand the industry you operate in, working to nurture new ventures and help provid
challenge coming from the uncertainty around the fiscal cliff. >> susie: you do a lot of business in china, and you're very bullish on china. can your business in china offset any during you might have in your business from what goes on in the u.s. economy? >> probably not. i'm bullish in the auto business and the building trades, but that is not going to be enough to offset the fiscal cliff, and we're going to have to manage europe at the same time. >> susie: let's say there is no deal and the u.s. economy really slows down, or as some people say could go into a recession, how are you preparing for that possibility? >> we're trying to make those investments that are strategic, and holding back on our hiring because we don't know the growth rates. we're probably looking at the different ways to reduce our points from a logical standpoint, and we're trying to pull every lever to give us some latitude and leverage. >> susie: what deal would you like to see come out of washington? what would be best for your company? >> probably making certain that the tax increases don't go all the way down
but they've got to remain so. >> rose: do you look at the new leadership in china and think they will change the way china is -- >> well, they're a new generation, i've met some of them. but the question -- i think they face enormous questions about their own internal political system i hope that there's a real international opportunity to nationalize their currency. instead of that being a threat it's an opportunity for london as a financial center to be the place where ewan trading takes place and, in fact the last couple of months for the first time in our history a chinese bank issues and rnb bond outside china and hong kong so that's because of a lot of hard work in the city of london and with the british government to make britain a place where this new activity takes place. it's a good example of us actually not do so powered by rolls royce engines and airbus planes. the that's a bit anglocentric but there are going to be products and service which is people and these countries will want for the first time in their families histories and there's a real opportunity for
reports on police officers in china, and their accusations of widespread corruption by local officials. and jeffrey brown samples the poetry about greece's financial woes and its austerity measures. >> we'll hock the person to buy our bread. if you believe the headlines, then we're sunk. greece downgraded deeper into junk. >> ifill: that's all ahead on tonight's newshour.n >> major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: much of the world paused today to observe christmas. the day brought all the traditional rites of faith for christians and a new urgency to calls for calm in the troubled corners of the globe. thousands of the fait
. >> in shanghai in china they sang an alternative version of auld lang syne. >> and in hong kong a more familiar one. ♪ auld lang syne ♪. >> a sum >> holman: a somber mood prevailed across india on new year's eve, as the country mourned the victim of a gang rape. celebrations were scaled back after the 23-year-old woman died on saturday at a hospital in singapore. the attack on her has triggered mass protests in india. today, amid candlelight vigils, there were more calls for tougher rape laws. . >> we have all decide tad that we will not sell brat new years because this year we have lost a sister from amongst us. and whenever we lose someone of our own, or that person passes away we mourn for them. this time we are spending new year's in mourning >> holman: six men have been arrested and charged with murder in the attack. former president george h-w bush is showing signs of improvement. over the weekend the 88-year-old was moved out of intensive care at a houston hospital, where he'd been fighting off a fever. the 41st president was admitted on november 23 with what began as a bronchitis-re
on housing and employment data, the global economy continues fragile with the european debt crisis and china i in in. >> rogoff is a professor of public policy and economics at harvard, he is a coauthor of the best selling book, this time is different, eight centuries of financial folly, many consider it to be the authoritative text on the impact of financial crisis around the world. i am pleased to have ken rogoff back on this program. welcome. >> thank you, charlie. >> rose: let me start big, if i may. so i mean, how do you see as we enter a new year the global economy? >> well, to state the obvious, everybody is growing more slowly than they would like to, if at all. europe is basically flat, the u.s. is improving, but it is not exactly galloping and, you know, we are entering probably a weak quarter where people are hoping it will be stronger over the course of the year, china is slowing some and in general all of the emerging markets are slower than they were most of them india has slowed dramatically, brazil is slow, so yes, indeed it is a fragile situation, when the u.s. is one of the
forces. itn's john sparks reports on police officers in china, and their accusations of widespread corruption by local officials. and jeffrey brown samples the poetry about greece's financial woes and its austerity measures. that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: the election commission in egypt confirmed today the new constitution won nearly 64% of the vote in a referendum. the panel also reported turnout was just a third of the country's 52 million registered voters. president mohammed morsi and his muslim brotherhood backed the draft constitution. opponents warned it paves the way for islamic rule and curbs on civil liberties. the six persian gulf arab nations demanded an end to what they called iranian interference. they issued a statement today at the end of the gulf cooperation council's annual summit. the statement gave no details. the six u.s. allied countries, also called for swift international action to end the bloodshed in syria. in central asia, a military plane crashed early this morning in kazakhstan killin
nouri al-maliki said the demonstrations were not acceptable. the government of china imposed tighter controls on internet usage today. now, china's 500 million web users will have to provide their real names when they register for internet service. and providers must delete any web content deemed illegal, and report it to authorities. leading writers and bloggers insisted it's a new way for china's communist leaders to censor their critics. >> ( translated ): since the internet came into china, the chinese government has been repeatedly imposing restrictive measures, such as shielding, blocking and banning. it has even spent billions of dollars to build a firewall against overseas sites. they just don't want to see any freedom of speech which is provided by the constitution because it will hurt their vested interest. >> holman: the new curbs come in the wake of a series of online discussions that have helped expose corruption scandals. russian president vladimir putin signed a bill into law today banning americans from adopting russian children. the move terminated more than 50 adopt
phone, nokia announced a deal with china-mobile to sell its top lumia smartphone in china. shares of nokia jumped 12.8%. volume was very heavy as shares sit at a seven-month high. meantime, banking stocks were in focus thanks to the job cuts announced at citigroup. bank of america joined in the rally with shares closing with a double-digit handle. with b. of a. finishing the session at $10.46, it's the first close over $10 per share since july 2011. also helping the financial sector: insurance companies. two of them released their estimates of how much hurricane sandy will cost them. travelers figures the storm will cost it $650 million. hartford pegged its storm losses as high as $350 million. analysts say the companies can absorb the impact. both stocks were higher. travelers rallied 4.9%, closing less than one dollar away from a new 52-week high. hartford added 2.9%. drug giant pfizer had encouraging news on an experimental breast cancer drug. with up to $6 billion in potential global sales, the stock rallied. shares jumped 1.9% on heavier than usual volume. while the breast cancer drug
ranked as the best performer. if we look at the charge of coming in in second place, china and brazil. why the vote of confidence considering all these concerns about the fiscal cliff? >> you're right, susie. it's interesting. it's a happy holiday season for investors. in the u.s. the stock market is going to have returned close to 13, 14%. and charter financial analysts around the world that we surveyed as you say feel pretty good about the prospects for next year. markets often do climb a wall of worry but in perspective we've had resolution of political uncertainty here in the united states. the new political leadership in china appears to be market friendly. we have avoided having southern europe slip into the mediterranean. and so also given other asset classes equities appear to be relatively attractive. >> let's talk about that, actually. because did you ask the people that you survey what are the best asset classes. and stocks got-- was at the top of the list. let's look at the list here, followed by precious metals, commodities, bonds and cash at the bottom of the list. tell
% of the crops are gone. >> sreenivasan: the typhoon is now swirling over the south china sea. it's expected to break up by the weekend. washington state is now the first state in the nation where recreational use of marijuana, by adults, is legal. the new law was approved by voters last month, and took effect at midnight. in seattle, about 100 people marked the occasion by smoking joints beneath the city's iconic space needle. technically, doing that in public remains against the law. marijuana is still illegal under federal law. but the justice department has not said if it will try to block the washington state law or a similar statute in colorado. same-sex marriage also became legal in washington state today, and in maryland. gay and lesbian couples in both states began picking up marriage licenses. those in washington state have to wait three days to be married. same-sex weddings in maryland will begin on january first. maine will legalize the practice on december 29. the three states are the first to approve same-sex marriage by popular vote. in economic news, new jobless claims fell s
about is about job security and outsourcing of jobs to other parts of the u.s., china and taiwan. the relatively small clerical workers' union fear their jobs are at risk. they are union back jobs and well-paid. they have been supported by members of a sister union. the effect is to bring the sprawling complex to a standstill. it accounts for more than one- third of the imports into the united states. >> if i am a small business woman in ohio, why should i worry about this strike? >> quite simply, the fear is is if this is allowed to carry on, there will be a shortage of goods and a hold up of the vessels that are languishing behind me. they are just hanging around and not being processed, they are not getting to the stores and the shortage could push up prices ahead of the christmas shopping period. >> everybody will be watching. thank you for joining me. still to come on tonight's program. it is the presidency being watched around the world. prince william joye and his wife -- joins his wife kate in hospital. we will bring me the latest. a powerful typhoon has been battering th
issue of syria. the western countries have one position. russia and china have another. both sides actually need to move. holding on to positions that do not work. and the absence of a security council resolution means the joint u.n./terribly peace mission -- the joint u.n.-piece -- the joint u.n.-arab league peace mission is at a standstill it is hard for them to make progress. if they cannot make progress, then as things began to fragment here, more people die and the big worry is that syria might even descend into being a failed state. >> and now we go to retired general james dupnik at the institute for the study of war. thank you for coming in, general. how much do we know about what the syrians have in terms of chemical weaponry? >> i'm sure our intelligence agencies know a lot more than we do in reading the newspaper. but there's always a degree of ambiguity. we know 85% to 90 percent of what they are duly, but -- to 90% of what they are doing, but there's always an element of the unknown gruden >> what of their storage facilities? >> i think we would know about -- about the
did, as mark said, create a middle class. the problem is international competition. once in china and japan and all these countries start making stuff cheaper, it is problem for unions, and that is just a reality. >> it is also reality that some of that manufacturing is coming back, and not because of low wages. because of transportation costs, innovation, all kinds of things. what bothers me about this vote is that it was bought and paid for by a few wealthy people. the leader of the senate, the governor, both on record not want to do this initially . they did it turn around. and lost five seats and the legislature. >> you can look for all the conspiracy's you want. the fact is that michigan was adjusting to exactly the reality that evan is talking about, globalization. i think was glory days for the unions 94 is, 1950's, 1960's, when the rest of the world was devastated by the second world war, we had a monopoly and, yes, great benefits to it the problem is that when you have global competition, you are uncompetitive. detroit went bankrupt but the southern transplants did not. h
. so, after 52 cycles come our calendar is renewed. >> in china, one inventor has created an end of the world pot again for those -- for those looking to survive armageddon. >> i could do a party to mark but if it is going to end, the party's likely to happen, is it? >> no one knows what the end of the world will be like but it was a match and in this painting. there have been many predictions about what it will be. the seventh day adventists said that it would be in 1874. the prize for persistence would go to a person who predict that the end of the world at least six times between 1994 and 2011. he was wrong every time. in france, one village has been sealed off by police and surrounded by journalists after rumors spread that the local mountain would prove a safe haven. the locals fear an onslaught of new wave survivalists. >> we don't think the world this point and. >> you came here just for the fun of the story? >> famous journalists come to meet some crazy people. it might take more than a ufo to survive this if it turns out that the mine's ore right after all. mayans were r
. but, in the western europe, and in the far east. and, in china. >> reporter: strong demand for gold exchange traded funds has also helped support prices. the spider gold trust-- ticker gld-- has $75 billion in assets. and it's is backed by physical gold. it also helps that some hedge funds with bylaws prohibiting them from buying futures, can buy gold e.t.f.'s. >> so there are some people that were restricted before. they're not now, and that's supportive of the gold. >> reporter: a gold rally is not a sure thing. if there's a recession, some fear commodities like gold will drop in value. on the other hand, if the economy picks up sharply, riskier assets could become more attractive. erika miller, "n.b.r.," new york. >> susie: more signs today that housing demand is picking up: the number of contracts signed to buy homes rose in november, to its best level in more than two years. the national association of realtors index of pending sales rose almost 10% last month. so will the housing market continue to recover in the new year? that's what tom hudson asked toll brothers chief finan
of that didn't include, congress orks north korea. even china is bumping up against its neighbors and it's striking how little of this was discussed. but the economy always gets in the way of foreign policy. about the only piece to foreign policy that made its way to the campaign is first president obama's often repeated claim that he had taken doubt osama bin laden. and the benghazi. there's a coverup going here. something's wrong. it ended up being the wrangled poor susan rice's poor talking points. but even under that one, there was a bigger picture and a bigger december lesson that we can draw, which is the fighting in libya that produced the attack on the american consulate is part of the very long aftermath of what we used to call the arab spring. john kerry said we shouldn't call it that. it's going to take longer than one spring. and the people who did it were not members of the old al-qaeda. they were an off-shoot. they were inspired by al-qaeda. osama isn't there anymore. and that it's -- and the old al-qaeda probably doesn't have the capability to do 9/11 anymore but the probl
an originator of new kinds of policies. if you take, for example, china policy i think that he may be reluctant to react to a china which is very different from the way it was in the past. >> brown: let me bring david ignatius back. i guess it depends on what you think is needed right now, right? >> i think the world's a mess as kerry believes. he's right. and needs a strong american voice. needs the sort of steady hand that some of these experiences can bring. i point i would make about kerry is that although he often comes across as a stiff, as an establishment figure very form layic, in terms of shall ideas an willness-- willingness to engage adversaries, reach out and try to find a channel to iran, for example, reach out to the palestinians, try to think of new ways to deal with the arab world, kerry is on the more innovative side. so i think he is not going to be a wild radical-- the country will miss having someone like susan rice who is a younger, different voice. but i think that kerry-- it's wrong to think of kerry of just being a throwback to 30 years ago. >> brown: is it clear still
than we do from china. so you are talking about artisan product, product that has a story to it. that's special. you don't see that in retailing in america. >> reporter: stores like sur la table are expected to be one of the few bright spots in an otherwise lackluster holiday season for merchants. in fact, some experts think home goods will be hotter than toys this holiday season. ibm projects home goods will see the strongest sales growth this year, up over 6%. that's far more than toys and electronics. >> you may ask yourself, why home? we think home is up because of a lot of things-- things like the changing demographic of the home itself. there's a stat that says that 41% of those between 25 and 29 are living back at home. >> reporter: but there also a second reason. >> we think that this holiday people are buying what they need vs. what they want. >> reporter: which had me wondering what's on jack schwefel's wish list this holiday season. it wasn't this $5,500 coffee maker. >> there are some new knives that i'm actually pretty excited about, so probably those. they're cutting boa
in the administration, no confidence in the government. we are having people buying $500 billion of our debt, china and japan, for example, do you think they are going to do it under these circumstances? we are looking at a tremendously difficult long- term problem, short-term problem, and immediate problem. >> actually, america is borrowing money at record low rates and the rest of the world parks their money here. i think we're in a strong position. i think the rational thing to do is to pass the legislation that the senate passed which extends the tax cuts for 98% of the people, then duke it out, and the fact that the claim bear of commerce and the business round table are all coming down on the president's side saying that they agree that the top rate should go up is a powerful shift in alliances, and i think the republicans are going to fold. >> i have to say one thing. the people who are buying our debt is called the federal reserve bank, okay. >> uh-huh. >> their balance sheet has almost quadrupled. by far and away they're buying 70 to 80% of our debt. that's where the money is coming from.
Search Results 0 to 49 of about 68 (some duplicates have been removed)